RATE Group | Bitcoin exchange Coinbase valued at $8 billion after new funding round
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Bitcoin exchange Coinbase valued at $8 billion after new funding round

30 Oct Bitcoin exchange Coinbase valued at $8 billion after new funding round

Posted at 16:18h in Bitcoin News by

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The popular cryptocurrency exchange Coinbase is now valued at $8 billion after a mega funding round, the company announced Tuesday.

That round, led by Tiger Global Management, infuses the crypto startup with $300 million to “accelerate the adoption of cryptocurrencies and digital assets,” according to the company.

Y Combinator Continuity, Wellington Management, Polychain, and Andreessen Horowitz also participated in the round.

Its new $8 billion valuation means Coinbase is now publicly valued higher than the $7.1 billion Slack and the $7.6 billion Instacart. Rumors of the valuation were first reported by Recode in early October.

While the greater bitcoin and cryptocurrency markets have suffered since hitting astonishing highs last December, Coinbase has continued to truck along, thanks in part to funding and support from some of the biggest names in Silicon Valley venture capital.

The company was valued at just $1.6 billion in August 2017 thanks to funding from big names…

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